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Expecting a Refund? When to File Your Denver Tax Return

January 31, 2018

Odds are 2018 will not be the first year you are filing a tax return for reported income to the Internal Revenue Service (IRS) for earnings made during the 2017 calendar year. However, with the brand new Tax Cuts and Jobs act that was recently passed, your return may or may not look different this year. Even with the changes taking place, if you or your household have received a refund, especially a sizable one on which you rely, then expectations are this year will not be much different without any major changes to your income levels or other factors that may influence your tax levels.

If consistent refunds are the norm and one is anticipated again, then knowing when you can file in an effort to receive the refund as fast as possible is an important piece of information. Last year, the IRS began accepting tax returns on January 23 meaning individuals had essentially three months in order to file a return without asking for an extension. This year, especially with the recent changes, that date is expected to be delayed.

While no official submission date has been released by the IRS, some anticipate it may be mid-February before acceptance and a firm date on when you can begin filing tax returns. If this is the case, then everyone will receive only approximately two months worth of time to file with acceptance.

A key factor to consider is that filing and acceptance are two different issues. Employers must deliver W-2 Forms to their employees by the end of January and typically any 1099 employees will receive their needed paperwork by then as well. Once these and any other information needed for filing is collected, then an individual can technically file their taxes for the prior year although they may not officially be accepted and reviewed until the date set forth by the IRS.

Regardless, the end date has been set for returns filed without any extension. This year, everyone must file or request an extension by Tuesday, April 17. The April deadline received a small bump forward due to a holiday celebrated in Washington D.C. giving taxpayers a little cushion for submission.

The experts at Bloch, Rothman, and Associates will be happy to help you determine individual tax implications and filing status, assist you in determining which deduction would be right in your situation and answer any questions regarding individual or business income taxes. We can also assist with a variety of bookkeeping and other payroll options. It is recommended for those who are selected for an audit, that they enlist the services of a professional tax service before they begin engaging with the IRS auditor, especially before they submit any information.

Included in the services offered at Bloch, Rothman is a fully detailed review of your individual or business tax situation, which will be completed with the unique and planned resolution to your issues and estate compilations. All services will be completed in a timely manner, depending on your restrictions and possible tax deadlines. Covered are simple and complex tax and financial situations; from random tax forms to more robust representation, our tax experts are ready and willing to assist. Call 303-321-7160 or contact us for your initial free no obligation consultation.